Topic: How to increase profit in business - page 2. (Read 1818 times)

Anyway, one's good morals are the sign of a good person. The customer-vendor relationship is very important. A shopkeeper who always behaves well with his customers is always known as a successful shopkeeper. The good and bad behavior of the shopkeeper greatly affects the customer. People always avoid shopping from vendors who do not treat their customers well.It is very important to always create a friendly environment for business. Therefore, to increase your income and sales, you should always maintain ethics. That is why it is said that people who do not know how to smile should not do business.

The truth remains that you increases your business profits when you've a lot patronages and you've the customers demand so sell out your goods.

Otherwise, profits can be gained with a a selling methods strategies and your savings method.
As an entrepreneur aimed to gain profits, you must cut your costs looking forward to regain your capital in the business then it's assumed you've counted no lost but nevertheless, business has a varieties of profits and losts on some occasions.

You must possess a marketing skill in other to entice and attract customers for patronages without them undermining the cost of your service meanwhile.... You don't target to make over profits otherwise your goods gets stocked due to your service charges and it's marketing system.

There are ways you could administer a discount and yet arrived at making profits than loosing because when others are making $10 as profits from a commodity for instance and you decided to take off $2 from it as discount and sell to the people, they will prefer buying from you because of the little difference and you would have patronize market to restock more than three times while others were still struggling to make a single round of sales in their market, so making ba discount should be at your own interests too and not to just please the buyers at your own loss.

what you said is very true, in business you must always be able to provide good service/relationships to new customers, it will easily be able to transmit it to other new customers, it is certain that it will continue to provide an effect for faster development. so that in time it only remains to cultivate that goodness and receive the results of what has been done, it looks easy to do but it needs to be able to receive input from customers for continuous improvement.

Definitely, the client should feel maximum comfort if you provide some services or sell goods. By the way, the Turks are great at it, when I was in Istanbul, they sold great: politely and with humor.

I had a business selling paintings. I drew and sold them, but a year ago the site where I sold paintings ended its existence. But I remember that it was the best feeling: when a client came to me for paintings on my page. And wrote me a message. And I didn't have to force myself to be polite or not sincere. I felt that I loved each of my customers, and I naturally managed to be a great and polite seller. Because if you love your job, then you will be like that.

This suggestion is really good. Because the store-to-store can sometimes get tiring. One store I know works this way, I won't name names. At the same time, the products in this store can be cheaper than the brands own stores. I usually like to shop there during these cheap periods. Sometimes I try the product from its own store and visit that store where they are all sold in one store, in case it is more suitable.

Nowadays, shopping is usually done online, but I prefer to go and see and buy.

The assortment in a certain niche is a very important point, but it will be very important in an offline store, where the buyer comes and chooses and measures during the purchase. But if this is online sales, then there is no such great importance in the assortment of different brands, because you will be targeting buyers who prefer a particular brand. You can develop any of the directions, you just need to see which sales method gives the best results, or if you have a large assortment of different brands, then it will definitely not be worse for online sales.

Honestly I really liked different brand suggestion. Whenever I enter big shop I always wanna see many brand possible to compare. Except big discounts I tend to prefer buying things physically so if you can give me opportunity compare couple of different brands in one shop you will directly increase my chance to buy from you. I dislike to wander around more than 3-4 different shops just to do comparison. I would also suggest people to engage your target demographics. You may portray yourself like young clothing shop if most of your customers are young, with decoration etc.

This strategy is good and simple to apply but in reality, the result maybe different. Reason is that you may relate very well with customers and they spread your market to their friends but if the need is not there, they will not come and the price is also another key to consider. The customer you sold am item to might be interested in what was sold to him and the other might not be interested in the price, they will want to make research about price in another location and if they found out that it's cheaper than the amount you sell, they wouldn't come to you and even the first customers you sell to wouldn't come back again.

Your logic can only work in a situation where you sell goods and services that has a uniform price, it wouldn't be a problem to get customers to come and buy, in this case using discounted price shouldn't be your next move but how to win them over like society interested, like relating to what they like, get to know them and if the customer is a public person, talking good side of their family isn't bad and also religious aspects if you share the same believe with them.

From what you mentioned about customer retention that is a good one because seriously today what most businesses that are thriving today are enjoying is referrals, if you get one customer and you relate well with the individual that person can bring another 10 customers and such will also bring another 10 from there you have more customer to buy your products and that means more income and profit

If you are still relatively new to the business world or don't have a lot of capital in it, the ability to compete with other stores will be much more difficult because they can provide big discounts and hire influencer services to increase promotions. The strategy you use in running a business is very good and I believe it takes consistency to remain patient in dealing with the process and if you are able to pass it, it will end in victory as you feel now. Business people must also be observant in seeing opportunities, providing good service and ensuring the quality of the products we sell is also a strategy to entice buyers to continue visiting our store.

Not all influencers have expensive fees to work with because you can look for influencers who are paid for endos which are much cheaper, even though their followers are not as many as other influencers who are so established. But at least for the initial step of promotion using social media they are enough as a basic introduction to your small business and can gradually be increased again in accordance with the evaluation of the extent to which the business development is being carried out..

The most potential strategy to grow a business is to treat the customer well and develop a good relationship with the customer. and all the while retaining more customers at individually lower profits. and sometimes attractive discounts can also make a business better. on the other hand, even if the profit is low, if you always keep good product supply, the customer will love them and take the service for a long time. And there are many more sophisticated strategies that can make a businessman highly profitable. and always have to use a different strategy that will always promote exceptionally from other business

It's all part of marketing where the goal is to increase product sales,
it is certainly not easy to make products that consumers can easily remember because of intense competition among products,
creativity to create different and unique ads has an important role.

with lots of advertisements for a product, the product will be better known by many people, especially if the advertiser is a public figure who has many influencers, so that many followers will follow in his footsteps, of course this can increase the sales results of a product, therefore many advertisements are made unique in order to impress the consumer's memory. especially if the product is of good quality and satisfies the customer, of course the customer will come back again to buy it and make it a lifestyle

The instinct of many business owners is to decrease prices to stay competitive, but the reality is that a reduction in prices would have a dramatic negative effect on business profits. If you were to decrease your prices, you would have to sell a higher quantity and attract new business to keep the same amount of profits as before. This usually only works in very specific industries, where products are highly competitive in price.

Instead of reducing your prices, many businesses could benefit from increasing their prices. Even a slight increase in the price of 1-5% can drastically improve your profits. There is always the worry that a price increase will lead to a loss of sales. But, even taking into consideration that you might lose some of your sales volumes, you will usually see a positive impact on your profit. This means you will be making more money per sale, with fewer sales overall. More money for less work!
Secondly, building a good customer base can help in making a profit in business
Originality is also a good point for customers. As a businesswoman, you have to gain the trust of your customers, when you advertise a quality product, make sure that you are giving them the original, you don't advertise a good product and end up selling fake to your customers.
Make your customers know the need for consistency, sticking to one product, by so doing, they will be patronizing you because you have been able to build long-term relationships with them
Lastly, good customer service. the service a business person gives to the customers should be top-notch.
 
The natural tendency of many business owners is to lower prices in order to remain competitive, but in reality, doing so would have a drastic negative impact on corporate profitability. To maintain the same level of earnings as previously, you would need to sell more product and draw in more customers if you were to lower your prices. Typically, this is only effective in a small number of highly competitive businesses.

Many businesses would profit more from raising prices than from lowering them. Even a 1-5% price increase might significantly boost your earnings. It's a constant concern that raising prices would result in a decline in sales. , even taking into consideration that you might lose some of your sales volumes, you will usually see a positive impact on your profit. This means you will be making more money per sale, with fewer sales overall. More money for less work!
Secondly, building a good customer base can help in making a profit in business
Originality is also a good point for customers. As a businesswoman, you have to gain the trust of your customers, when you advertise a quality product, make sure that you are giving them the original, you don't advertise a good product and end up selling fake to your customers.
Make your customers know the need for consistency, sticking to one product, by so doing, they will be patronizing you because you have been able to build long-term relationships with them
Lastly, good customer service. the service a business person gives to the customers should be top-notch.

Promotions and marketing wont really be that sufficient if the product/service you've been offering is shit and not really that something having the demand on which you would really be that basically be wasting up

your money with this even if you do go all in or having that huge allocation for marketing but if you do have a bad product or something not really that relevant or much needed then you are really still that bound to
fail. This is why you shouldnt really be only thinking on one angle or spot when you do see that you business isnt really taking  that much attention or having sales on which it is really that showing that there's something wrong.There would really be needing up some check up about on other factors which might really be that been neglected or didnt really pay up some attention on which this might be the
problem that your business is really facing on.

Investment doesnt guaranteed out success on which there are ones who do succeed and there are ones who do really fail. This is a world on which competition is high and it is
really that understandable that it would really be survival of the fittest.

One of the best way to make more profits from business is to do more of advertisement to promote the business. This is why we do see that there are some projects that are more successful that the other. Companies that do more if advertisement will make people to see there product and those that are interested will always go for it. Running ads online to bring online customers to check the product and buy if they really want it. We need to create more awareness for our businesses so that we can gain more customers that will keep buying our products and making us make more profits.

Possible ways or strategies I do believe one can use to increase profit in a business are through these means,
1. Via the selling of quality products,
2. Good Customer service or customer communication,
3. Slight reduction in the of price products or goods and services
4. And online product marketing or advertising.

Small businesses can not conveniently afford influencers, so you are right by saying that large capital is needed otherwise the business may not survive competition from other established stores. That is why in my shop, as a small business owner, among other strategies like online advertisements, giving periodic discounts and rewards, i focus more on giving quality and delightful services to my customers. This has worked personally for me in my business, because I get a lot of new customers who go to the length of making me know that it was customer a or b that directed them to my shop. This delightful services to customers includes the way I treat them like royalties, with utmost respect,  when they step into my shop, it doesn't matter if the customer is buying the least item. Secondly is that I build trust by telling customers the truth about the quality of the product that they want to buy. So let their capital determine the quality that they eventually buy, among different brands of a type of goods.

 This simple tip has been working for me over the years and increasing my sales, which in turn is boosting my profits. I really recommend it for small business people who have little capital.

To increase profit in business, there are several strategies that can be implemented. One effective approach is to focus on increasing revenue while also reducing costs. This can be achieved by identifying areas where the business can improved efficiency, such as streamlining processes or renegotiating contracts with suppliers. Another strategy is to expand the customer base by investing in marketing and advertising campaigns, or by offering promotions and discounts to attract new customers. Additionally businesses can look into diversifying their product or service offerings to appeal to a wider audience. It's also important to keep a close eye on financial performance through regular monitoring and analysis of key performance indicators.